Strathmore University

Approved to post Kiva loans from: Kenya

Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner.

Strathmore University is one of the leading private chartered universities in Kenya, and is a privately owned, not for profit institution. Originally established in 1961 as an Advanced-level Sixth Form College with inspiration and encouragement from Saint Josemaria Escriva, founder of Opus Dei, Strathmore University started offering degrees in 2002 before becoming fully chartered in 2008. Tuition fees are a significant issue for students attending private universities in Kenya such as Strathmore University. As of January 2012, about a third of applicants offered a place at the University each year do not enroll due to lack of tuition fees. The university has a long-term goal of 30% of its student population accessing some form of financial assistance by 2016. Toward that effort, Strathmore University's partnership with Kiva is a perfect fit, assisting more students where lack of tuition payment is impacting their education. Strathmore University will offer eligible students the ability to secure loans from Kiva lenders for tuition payments and laptop purchases:

Tuition Loans:

As of January 2012, Strathmore University will offer two types of tuition loans to approved students. In order to be eligible for the Kiva loan program, students must maintain high academic standards, and come from a low-income household, among other requirements.

11 year: these long-term loans will include a grace period of up to five years, which includes the period of enrollment and the first year after graduation. During this time the borrower will not be required to make any payments. At the end of the grace period, repayments will become due on a monthly basis. The borrower will be charged an interest rate of 0% during the grace period of the loan, and 4% for the remainder of the loan term.

4 year: these shorter loans will be available to enrolled students (second year and above) who face cash-flow constraints. These loans will have no grace period. Repayments will be due monthly, and the borrower will be charged 6% per annum. Two-thirds of the full repayment will be required before the student is able to graduate.

Laptop Loans:

Loans for the purchase of a laptop will have a 24 month loan term, and borrowers will be charged an interest rate of 6%.

Kiva currently operates an office on the campus of Strathmore University's business school. We have leased this space and pay market rates for rent. It is in no way related to our lending partnership with Strathmore, and will have no impact on how we decide to work with the university. We previously leased space from another partner, Juhudi Kilimo, with the same policy.

Watch the video below to learn how Kiva loans have made a big difference for students at Strathmore:

Other Information Sources

Strathmore University's Mission Statement

To provide all round quality education in an atmosphere of freedom and responsibility; excellence in teaching, research and scholarship; ethical and social development; and service to society.

Why Kiva Works With Strathmore University

Strathmore University is one of the top universities in Kenya that offers undergraduate, graduate and professional courses to students. Kiva’s partnership with Strathmore has enabled the institution to develop a number of loan programs including 10-year full tuition loan products targeting bright students from poor backgrounds. Full tuition loans cover students’ entire 4-year undergraduate tuition fees and are payable within six years after graduation. This gives students time to find employment before repayments begin.

For Kiva, this partnership presents an excellent opportunity to branch into financing for higher education, and more importantly, to provide opportunities to students from poor backgrounds who might otherwise be unable to access quality education.